Top Stories by Bryan J. Lima
Real Estate on Ulitzer
New Jersey's high cost of living makes it very difficult to purchase a home.
Bergen County, NJ is the highest among all markets in homeownership
affordability and also happens to be the most populous county in NJ.
The median home price in Bergen County is $481,250. According to a 2007
estimate by the US Census Bureau, the median income of a family is just shy
of $97,000. If you assume that not more than 28% of the household income
should be used for the mortgage payment, that would mean that it should not
be higher than $2,263 per month.
Based on today's mortgage rates, that would equate to about a $375,000
mortgage. If you go back to the median home price in Bergen County of
$481,250 and assume that a buyer is putting down 10%, you would be left with
a loan amount of $433,125.
This is $58,125 higher than what the median family income can affo... (more)
I'm sure there are many people asking the question, "Is now the right time to
buy?". Nobody really knows for sure. However, there are some facts that you
can look at to help evaluate whether or not now is the right time to buy. For
one, mortgage rates are currently close to the lowest they've been in almost
50 years. In addition, home prices are low and probably close to the bottom.
There may be a little more ways to go, but I think we're close. With the
Spring homebuying season upon us, we may see an increase in sellers in the
market, which will increase inventory and possible p... (more)
Brand New Listing in beautiful Paddington Square located in Mahwah, NJ.
GREAT 1ST FLOOR ONE BEDROOM ONE BATH CONDO IN DESIRABLE PADDINGTON SQUARE.
NEWER WOOD FLOORS AND CERAMIC TILE IN ENTRY FOYER AND KITCHEN. LIVING ROOM
HAS SLIDING GLASS DOORS TO PATIO. NO STEPS. WASHER/DRYER IN UNIT. ASSIGNED
PARKING SPOT #420 IN FRONT OF UNIT. AMENITIES INCLUDE TONS OF CONVENIENT
PARKING, IN-GROUND POOL, PLAYGROUND AND CLUBHOUSE. PADDINGTON SQUARE IS
CONVENIENTLY LOCATED CLOSE TO NYC TRANSPORTATION, MAJOR HIGHWAYS & SHOPPING.
UNIT IS AWAY FROM STREET AND OFFERS QUIET LIVING. LOW TAXES ... (more)
I recently discovered a great new service brought to you by Google. If you're
tired of paying to call 411, this is a perfect alternative. It's called
GOOG-411 and it's free!
All you have to do is dial 1-800-GOOG-411 from you phone. For all you
BlackBerry users it's 1-800-466-4411. You can access the service from a
mobile phone or a land line. It's also voice activated, so you don't have to
press any numbers on your keypad if your driving or busy doing something
else. It's very simple, just say where you're looking and what you're looking
for. The service will then connect you dir... (more)
The Obama administration has enhanced their refinance program to now allow
refinances up to 125% of the home's value. Prior to this, the limit was only
105% of the home's value. Because home value have decreased entensively in a
lot of areas, this will allow a lot of homeowners that currently owe up to
125% of their home's value to refinance their current loans into a product
with a better rate. This will ultimately make it more affordable for them to
own their home and hopefully not have to go into foreclosure. Read more